WF has been fined 185 million for the crud. The reason I believe it's in the news is now there is a civil suit based from Los Angeles.
5300 employees have been fired.
What I've read on various financial reporting websites boils down to sales. WF is known for cross selling. In other words they want customers to own multiple accounts with WF. They are trying to make sure their customers own at least 8 products with the company. So far the average is 6 per customer.
WF is recognized for cross selling.
What happened is that sales reps and local management needed to meet goals and the heck with ethics.
Anyone is free to disagree with me, but unless corporations install programs that stop this behavior it will continue to happen. It's not that difficult, they just need to revise their internal auditing.
Years ago, I finally decided to finish my degree. Then I moved to TX. Guess who moved to TX during the Enron fiasco with an accounting degree? I still don't tell anyone I majored in Accounting, because of how Enron screwed people.
I did open an account with WF for the $40 I closed it because it was a pain. .In my area & they wanted $500 direct deposit every month or me using the debit card at least 10 times a month without incurring a fee. The additional shops were to open another account.
I know as an accounting major; all the ethical and business law classes are useless. It comes down to you as a person. Unless you as a person is ethical, it's not going to happen. I've worked for various companies and the only thing is the bottom line. They do not care if you as an employee will have issues with the government or the IRS. You're on your own. And it's specifically stated in your contract.
For all those who disagree, let loose with your rebuttals.
Live your life in such a way that when your feet hit the floor in the morning; the devil shudders...And yells OH #%*+! SHE'S AWAKE!